City of Brighton - File #: ID-208-21

• File #: ID-208-21
• Version: 1
• Type: Resolution
• Status: Agenda Ready
• File created: 7/15/2021
• In control: City Council
• On agenda: 7/20/2021
• Title: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BRIGHTON, COLORADO, ACTING BY AND THROUGH ITS WATER ACTIVITY ENTERPRISE, APPROVING THE EXPENDITURE OF AN AMOUNT NOT TO EXCEED THIRTEEN MILLION FOUR HUNDRED FIVE THOUSAND DOLLARS ($13,405,000.00) FOR THE ACQUISITION OF GROUNDWATER RIGHTS, WATER STORAGE RIGHTS, AND/OR SURFACE WATER RIGHTS ON OR BEFORE NOVEMBER 1, 2021; AND FURTHERMORE AUTHORIZING THE CITY MANAGER TO EXECUTE AN OFFER, EARNEST MONEY ESCROW, PURCHASE AND SALE AGREEMENT AND RELATED ACQUISITION DOCUMENTATION FOR SAID WATER RIGHTS AND TO EXECUTE AND UNDERTAKE SUCH TASKS AS MAY BE REQUIRED TO IMPLEMENT AND CLOSE ON SAID ACQUISITION

Date	Ver.	Action By	Action	Result
7/20/2021	1	City Council

Department of Finance / Utilities

Reference:                      Purchase Water Rights

To:                                                               Mayor Gregory Mills and Members of City Council

Through:                                          Jane Bais DiSessa, City Manager

Prepared By:                                          Maria Ostrom, Finance Director

Date Prepared:                     July 15, 2021

PURPOSE

A resolution authorizing the City Manager to execute and undertake such tasks as may be required to purchase water rights.

STRATEGIC FOCUS AREA

Recognizable and Well-Planned Community

Financially Responsible

Supportive, Sustainable Infrastructure

BACKGROUND

Staff presented information to City Council in Executive Session on June 22, 2021 regarding available water rights and water storage. Staff received general direction regarding negotiating positions related to the purchase of the water rights and storage.

FINANCIAL IMPACT

An amount not to exceed $13,405,000.

ATTACHMENTS

1.                     Resolution